Reasons Behind Today's Decline in Tesla's Stock Price
Tesla's Stock Performance: Tesla shares fell nearly 4% amid a broader sell-off in big tech stocks following disappointing earnings from Meta and Microsoft, compounded by uncertainty regarding interest rate cuts from the Federal Reserve.
Musk's Proposed Pay Package: The California Public Employees' Retirement System (Calpers) announced it would not support Elon Musk's proposed pay package, which could total $1 trillion over 7.5 years, citing concerns over its size and potential concentration of power.
Investor Sentiment on Musk: There are indications that Tesla's board believes Musk's leadership is crucial for the company's future, as evidenced by past reports of a potential CEO search and the stock's performance in relation to Musk's pay package.
Valuation Concerns: Tesla's stock trades at a high valuation, with a market cap of approximately $1.4 trillion and a forward earnings multiple significantly higher than other major tech companies, leading some investors to be cautious.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
